People familiar with the matter revealed that Italy is studying how to restrict the impact of Chinese tire manufacturer's endurance on Italian tire manufacturers.
According to Bloomberg's unwilling to name, Italian officials are currently discussing several options, which is part of the negotiation of the company's ownership structure with Pirelli investors.China Sinochem's holding of 37%of Pirellium is the largest shareholder of Pirelli.
People familiar with the matter said that the discussion options include restrictions on the sharing sensitive and strategic technical information of board members appointed by Sinochem Group, and may also involve the right to voting by restricting Chinese members of the board of directors.No decision has been made at present, and the negotiations are in progress.
Reporting pointed out that the options that are considering will not change the equity structure of Pirellium, nor will it force China to sell shares in China, but it will limit China ’s influence on Pirelli business.
